Directed placement and debt to equity conversion of 13.6 MSEK

Copperstone strengthens its financial position by 13.6 MSEK by a combination of debt conversion and directed placements.

“We are happy to welcome our new investors from Norrbotten, the Stockholm region, the US and Switzerland as we are about to start a new drilling program at Viscaria. We also feel a great deal of support from our debt holders who have chosen to convert debt to equity”, said Michael Mattsson, CEO of Copperstone.

The transaction structure comprises of the following:

31,675,488 shares for 12,321,765 SEK in cash, of which approx. 5.69 MSEK will be used to amortize debt. 3,233,933 shares for 1,258,000 SEK corresponds to conversion of interest and debt.

The issue price is 0.389 SEK/share, corresponding to 8.3% discount over the 5-day VWAP up and until September 5, 2019 on Nasdaq First North Growth Market, Stockholm. Total capital raised amounts to 13,579,765 SEK, net after transaction costs of 0.

After the transaction, the outstanding bridge loans have decreased from 11.8 MSEK to 5.5 MSEK.

The total number of new shares in the new issue is 34,909,421, which will increase the share capital by 3,490,942.1 SEK. The number of outstanding shares in Copperstone subsequent to the issues is 517,252,676. Dilution amounts to 6.7%.

“By this placement, Copperstone builds further on the momentum towards a mine re-opening in Kiruna, a world class mining town. Our balance sheet will be strengthened and in addition, our financial net will be significantly improved.” comments Michael Mattsson.

For further information, please contact Michael Mattsson (CEO) at +46(0)580-88890, or michael.mattsson@copperstone.se or refer to Copperstone webpage: www.copperstone.se.

This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). The information was delivered by the above-mentioned contact for publishing September 7, 2019 at 20:00 CET.

About Copperstone

Copperstone is a public company trading as COPP B on Nasdaq First North Growth Market in Stockholm, Sweden. The Certified Adviser is Augment Partners AB, info@augment.se, +46 8 505 65 172. The Company is focused on base and precious metal exploration in the vicinity of the internationally recognized mining districts of Kiruna and the Skellefte-field in northern Sweden. In addition, the Company also owns an exploitation concession in the Bergslagen mining region, in central Sweden.